For Any recorded issues that appear on the Title commitment and should have been resolved in a prior closing. Our dedicated and professional title examination team will provide the clear property reports before closing, so your closing stays on track./p>
Current owner search involves searching for the details of the present title holder of the property and the latest deed with consideration.
Two Owner search is done for the last two owners in the chain of title of the subject property from the current date backward.
Two Owner search is done for the last two owners in the chain of title of the subject property from the current date backward.
We will perform update search on the subject property from the current effective date of the last effective date search.
Property transferring one vesting person to another vesting person.
The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. Real property is transferred to a trustee, which holds it as security for a loan (debt) between a borrower and lender. The equitable title remains with the borrower. The borrower is referred to as the trustor, while the lender is referred to as the beneficiary and Additional Document which include Assignment, Modification, Subordination, and Substitution of Trustee.
Foreclosure is a legal process taken by a lender to terminate the owner’s right to a property. This process usually occurs when the borrower stops making payments on their loans. The bank or a creditor will take over the property or sell the property as a payback of the mortgage and any legal costs that have occurred.
The judgment that is abstracted by the creditor from the original judgment Issued by the court which would list the details of the debtor, creditor and the amount of the judgement (www.lexisnexis.com). It is a lien on a property by local, state or Federal Government for the amount of due and unpaid taxes.
The records pertaining to state and federal taxes are recorded in Tax Offices. The tax details are available in the form of tax sheet showing the annual tax, supplemental tax, Escape Taxes, other property tax information and delinquency in payment if present and along with utility info on the property.
Bankruptcy is another issue you do not want to encounter in a real estate property. If the seller is bankrupt, then the real estate property will be subjected to bankruptcy charges and any sale is not legally allowed. Bankruptcy filed against the borrower by using the PACER site.
